The 200-day moving average is coming back to haunt BTC bulls after staying as resistance for over a year.
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Bitcoin price faces key moving average showdown 3 weeks after breakout
Bitcoin (BTC) saw no relief at the Feb. 10 Wall Street open as United States equities dipped further.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView"All eyes" on 200-day moving averages
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it tracked sideways following a volatile 24 hours’ trading.
Existing market weakness was compounded by an announcement from U.S. regulators concerning Ethereum (ETH) staking, with major crypto exchange Kraken forced to suspend its staking operations and pay a $30 million fine.
Bitcoin fell to three-week lows as a result, with traders eyeing potential retests of $20,000 and even $19,000 to come.
On the day, stocks offered little by way of comfort to risk asset traders, with the S&P 500 opening down to cross a significant line in the sand left over from late last year.
SEC chair issues warning to crypto firms after action on Kraken staking
“Don’t have your hand in the customer’s pocket, using their funds for your own platform," Gary Gensler said to companies that needed to register with the SEC.
The history of mining: From the stone age to the digital era
The history of mining reflects the ongoing evolution of technology and human ingenuity in the pursuit of extracting valuable resources from the earth.
The history of mining: From the stone age to the digital era
The history of mining reflects the ongoing evolution of technology and human ingenuity in the pursuit of extracting valuable resources from the earth.
PayPal held $604M in Bitcoin and other crypto by the end of 2022
Bitcoin and Ether have the largest share in PayPal’s crypto assets, accounting for $291 million and $250 million in the asset breakdown, respectively.
Crypto projects respond to privacy coin ban in Dubai
Christopher Goes, co-founder of privacy protocol Anoma, pointed out that privacy is a basic human right and a ban demonstrates a lack of consideration for the public.
Community urges Coinbase to relist XRP as CEO fights for staking
The community wonders whether delisting XRP in 2020 was due to Coinbase’s willingness to protect customers from “government overreach.”
China to launch national blockchain research center
The goal of the new state-supported institution is to speed up the country’s industry through blockchain technology.
Bitcoin price taps 3-week lows as SEC fears liquidate $250M of crypto longs
Bitcoin (BTC) fell to bearish target zones on Feb. 10 as bulls failed to hold important support above $22,000.
BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewCrypto wipeout mounts as BTC price loses $22,000
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $21,633 on Bitstamp.
The pair reacted badly to regulatory fears from the United States but had already faced days of bearish sentiment, with traders expecting a retest of $21,000 or even lower.
At the time of writing, Bitcoin traded at around $21,800, down around 7% in February so far.
“Bear market back or are we just having a slight correction?” Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, queried on the day.
Bitcoin price taps 3-week lows as SEC fears liquidate $250M of crypto longs
Panic over regulatory enforcement sees Bitcoin and altcoins give up recent gains, costing long traders over a quarter of a billion dollars in a single day.
Bitcoin price taps 3-week lows as SEC fears liquidate $250M of crypto longs
Bitcoin (BTC) fell to bearish target zones on Feb. 10 as bulls failed to hold important support above $22,000.
BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewCrypto wipeout mounts as BTC price loses $22,000
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $21,633 on Bitstamp.
The pair reacted badly to regulatory fears from the United States but had already faced days of bearish sentiment, with traders expecting a retest of $21,000 or even lower.
At the time of writing, Bitcoin traded at around $21,800, down around 7% in February so far.
“Bear market back or are we just having a slight correction?” Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, queried on the day.
South Korea sets independent sanctions for crypto theft against North Korea
The sanctions against several well-known individuals and hacking groups came just hours after S. Korea announced a joint cyber venture with U.S. intelligence agencies against ransomware threats.
South Korea sets independent sanctions for crypto theft against North Korea
The sanctions against several well-known individuals and hacking groups came just hours after S. Korea announced a joint cyber venture with U.S. intelligence agencies against ransomware threats.
Bitzlato co-founder released from brief arrest and questioning: Report
The co-founder of cryptocurrency exchange Bitzlato was briefly detained for questioning in Moscow at the request of Interpol, after which he was released.
Ethereum price risks 20% correction amid SEC's crackdown on crypto staking
Ethereum may experience a drop in user activity alongside ETH price with crypto staking in the crosshairs of the SEC.
Ethereum price risks 20% correction amid SEC’s crackdown on crypto staking
Ethereum’s native token, Ether (ETH), saw its worst daily performance of the year as the United States Securities and Exchange Commission (SEC) stopped Kraken, a cryptocurrency exchange, from offering crypto staking services.
On Feb. 9, Kraken agreed to pay $30 million to settle the SEC’s allegation that it broke securities rules by offering crypto staking services to U.S. retail investors.
In particular, the news pushed down the prices of many proof-of-stake (PoS) blockchain project tokens. Ethereum, which switched to a staking-based protocol in September 2022, also suffered.
On Feb. 9, ETH’s price plunged nearly 6.5% to around $1,525, the largest single-day decline since Dec. 16 of last year.
ETH/USD daily price chart. Source: TradingView.comWill Ethereum staking survive the SEC crackdown?
The SEC's crackdown on crypto staking begins as Ethereum awaits the release of its key network upgrade, dubbed Shanghai, in March.
Stablecoin issuer Paxos reportedly probed by New York regulators
Paxos Trust Company — the New York-based stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is reportedly being investigated by the New York Department of Financial Services (NYDFS).
A “person familiar with the matter” told Bloomberg in a Feb. 10 report that the exact motive behind the probe is currently unclear.
An NYDFS spokesperson declined to comment on ongoing investigations but noted that the department is broadly working to protect consumers from risks associated with investing in the cryptocurrency market:
“The department is in continuous contact with regulated entities to understand vulnerabilities and risks to consumers and the institutions themselves from crypto market volatility we are experiencing.”
Paxos has issued BUSD — a U.S. Dollar-collateralized stablecoin — since the firm struck a partnership with Binance in September 2019. It is the third largest stablecoin, with a market cap currently exceeding $16 billion.
Stablecoin issuer Paxos reportedly probed by New York regulators
While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year.
Bitcoin price more correlated to FTX developments than macro events: Research
While inflation has an effect on the price of Bitcoin, researchers were bewildered by bitcoins resilience to other macroeconomic factors.